Ronnie Finance Personal Loan

Personal Loan

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    About Ronnie Finance Personal Loan

    Now fetch funds for personal use without giving any collateral from Ronnie Finance, a Delhi- based Non- Banking Financial Company. The company assures that your needs are fulfilled at the correct time and helps you overcome the money barrier by providing a personal loan. The company provides a loan to the candidates living in Delhi at the decent rate of interest for the maximum tenure of 3 years. The eligible candidates can apply for the loan online. The company maintains transparency in its process and charges. It lends the loan for up to ₹5 lacs. And charges a nominal processing fee.

    The necessary details regarding the loan offered by the company are mentioned below:

    Ronnie Finance Personal Loan Details

    ParticularsDetails
    Interest Rate 35% p.a.
    Loan Amount ₹50,000 – 5,00,000
    Tenure 12 – 36 months
    Processing Fee Rs. 2,000

    How To Apply

    To avail the benefit of a personal loan from Ronnie Finance, contact the company’s representative on the customer care number or apply online using the link available on the company’s website.

    Ronnie Finance Personal Loan EMI Calculator

    EMI stands for Equated Monthly Installment. It is the convenient monthly amount that the borrower has to pay to settle the loan availed. The EMI consists of both principal and interest amount. This amount can be computed using the EMI calculator, a device designed specifically to help the borrower know his monthly installment amount. It’s working is very simple. The user just needs to enter the loan amount, tenure and the rate of interest. It will automatically calculate the result. And will reveal the total interest amount charged on the loan.

    For Instance, a person avails the loan of ₹5,00,000 for the period of 3 years at the prevailing interest rate then his EMI will be ₹22,618. The total interest charged on the loan during the period will be ₹3,14,249. He has to repay the total amount of ₹8,14,249 by the end of 3 years.

    The interest charged and the installment amount for various tenure is given in the table below.

    Table Showing EMI, Total Interest Amount and Total Repayment Amount

    Loan Amount
    (in ₹)
    Interest Rate
    (p.a.)
    Tenure
    (in years)
    EMI
    (in ₹)
    Total Interest Amount
    (in ₹)
    Total Repayment Amount (Principal + Interest)
    (in ₹)
     
    5,00,000 35% 149,98199,7785,99,778
    5,00,000 35% 229,2592,02,223 7,02,223
    5,00,000 35% 322,6183,14,249 8,14,249

    Amortization Table

    Year Principal (in ₹)Interest (in ₹)Balance Amount (in ₹)
    1113,489 157,927 386,511
    2160,247 111,169 226,264
    3226,905 45,151 0

    Eligibility Criteria

    The person covered under the below-mentioned category and stable source of income are eligible to avail personal loan from Ronnie Finance:

    • Salaried Individuals
    • Business Owners
    • Partnership/  Pvt. Ltd. Company
    • Professionals

    Documents Required

    • Copy of Pan Card
    • Company Id card
    • Residence proof
    • Business Existence Proof
    • Latest 2 years Income Tax Returns
    • Latest 1-year bank statement both current and savings
    • Two passport sized photographs

    Features and Benefits of Ronnie Finance Personal Loan

    Following are the benefits of taking a loan from Ronnie Finance:

    • No additional charges to be paid apart from processing fee
    • Easy availability of loan
    • Quick disbursal
    • Minimum paperwork
    • Customer oriented services

    Factors Affecting Personal Loan Eligibility

    The factors that affect Personal loan eligibility are:

    • Monthly Income
    • Age
    • Monthly Expenses
    • Any Other Loan
    • Credit History
    • Job Stability
    • Category of Your Employer

    Ronnie Financial Contact Number

    For all doubts and grievances contact the product experts on the 91- 83739999997. The company representative will inform you regarding the company’s policy & process and solve all the queries.

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    EMI Calculator